Costs continue to rise across sectors, not just in India but worldwide. However, not all costs rise the same: some have risen more sharply than others. The cost of good healthcare has risen at a staggering rate, and today, more than ever before; it has become imperative for individuals to invest in a good health insurance policy for themselves and their families.
Health insurance not only provides financial protection against unexpected medical expenses but also ensures people have access to quality healthcare services without worrying about the cost or the need for arranging significant sums of money. In India, many health insurance policies are available in the market. However, choosing the right one can be quite a task. In this post, you can check the 5 best health insurance in India to consider in 2023 and the health insurance criteria and eligibility to keep in mind while choosing a policy that is well-suited to you.
ICICI Bank is one of India’s leading private sector banks, and we offer a range of health insurance policies that cater to the diverse needs of all individuals. Let’s take a look at the 5 best health insurance policies in India that ICICI Bank has for you:
5 Popular Health Insurance Policies of 2023
1. ICICI Lombard Complete Health Insurance
This policy offers comprehensive coverage for individuals and families. It covers hospitalisation expenses, daycare procedures, ambulance charges, and much more. It also offers add-ons such as critical illness cover and personal accident cover. The policy can be customised according to needs and budget.
2. ICICI Pru Heart/Cancer Protect
This policy provides financial protection against two of the most common critical illnesses in India today – heart disease and cancer. It offers a lump sum payout following the diagnosis of any of the covered illnesses. The policy can be purchased as a standalone policy or as a rider.
3. ICICI Lombard Health Booster
This policy provides added cover over and above the base policy. It offers coverage for outpatient treatment, maternity expenses, and more. Buyers can also get a no-claim bonus and a health check-up benefit. The policy can be renewed for a lifetime.
4. ICICI Lombard Group Health Insurance
This policy is designed for groups including corporates, NGOs, and others. It offers comprehensive coverage for employees and their families, covering hospitalisation expenses, and day-care procedures, among other things. The policy can be customised to meet the best interests of the entire group.
5. ICICI Lombard Personal Protect
This policy offers personal accident coverage for individuals. It provides financial protection against accidental death, disability, and more. It also offers coverage for medical expenses incurred due to an accident.
Health Insurance Criteria
Now that we’ve gone through the 5 best health insurance policies in India offered by ICICI Bank, let’s look at the criteria that you should keep in mind while choosing a policy:
- Coverage: The coverage offered by the policy is arguably the most important factor to consider while choosing a health insurance policy. It is essential to ensure your policy covers all the medical expenses that you may have to incur.
- Premium: The premium payable for the policy is another crucial factor to consider. The premium is what pay annually towards your policy. Important to choose a policy that offers adequate coverage but at a premium amount, you can afford.
- Network of Hospitals: It’s vital to choose a policy that has a wide network of partner hospitals. Make sure your policy covers quality healthcare services near you. This will ensure you don’t fret over accessing the healthcare services you pay hard-earned money for.
- Co-payment: Some policies require individuals to pay a certain percentage of medical expenses. You must understand any co-payment clause before choosing a policy.
- Waiting Period: Most policies have a waiting period before they begin covering pre-existing medical conditions. It’s important to understand the waiting period vis-a-vis any pre-existing condition you have; before choosing a policy.
Eligibility Criteria for Health Insurance from ICICI Bank
There are different eligibility requirements for various health insurance policies from ICICI Bank. However, an individual will need to meet the following criteria:
- Age: The minimum age to apply for a health insurance policy from ICICI Bank is 18 years, while the maximum age varies from policy to policy.
- Medical History: Individuals must disclose their medical history while applying for a health insurance policy with us. Pre-existing medical conditions such as diabetes, cardiovascular disease, and others may affect the premium payable and coverage offered. However, some, such as ICICI Lombard Complete Health Insurance offer coverage for pre-existing medical conditions after their waiting period.
- Occupation: Some health insurance policies have specific eligibility criteria based on an individual’s occupation. For example, the ICICI Lombard Personal Protect policy has specific eligibility criteria for pilots and cabin crew.
- Lifestyle Habits: Some health insurance policies may have certain eligibility criteria based on lifestyle choices such as smoking, drinking, and more. For example, the ICICI Pru Heart/Cancer Protect policy may have specific eligibility criteria based on smoking habits.
- Geographical Location: Some health insurance policies may have specific eligibility criteria based on where the individual resides. A representative will help you out with this if required.
Some Other Things To Consider
It is always advisable to compare the features and benefits of different health insurance policies and discuss with people who have the same policies before choosing one that best suits your needs and budget.
Apart from the eligibility criteria, individuals must also be mindful of the documents required while applying for a health insurance policy from ICICI Bank. These documents include identity proof, address proof, documents related to medical history, and perhaps more. It’s best to keep these documents handy before applying for a policy to avoid any unnecessary delays in the application process.
Conclusion
People invest in stocks and securities to earn profits, but nothing is more important than health. A health insurance policy is literally an investment that can provide financial protection against unexpected medical expenses. You can go through all the policies ICICI Bank offers here on our website and contact us to assess the options that best suit you and your family.
